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If it is done for inadequate consideration, then clubbing is applicable and Income is taxable in the hands of transferor

 

Income from Assets transferred to any other person for the benefit of spouse - Different types of Clubbing

  1. Income Tax
  2. Clubbing of Income of Other Persons
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CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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